My USD/CHF Trade (23-02-2009) --- Position Squared

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Trade Ticket time displayed is based on US Eastern Time

Ignore the red and blue arrows on the chart.
Those are not my trades done. It is just analysis purposes.

Hello everyone,

My trade on the USD/CHF (23-09-2009).

After how dramatically the market closes last Friday, I was looking forward to such commitment today for continuation. To much disappointment, there weren't any. There was no commitment from sellers in this particular pair of currency.

What did happened is that buyers were fighting the market and a strong price rejection happened and it created a double-bottom chart pattern formation and after than, there was an up close candle which shows buyers commitment. I initiated a long position at the price line of 1.1540 at 4:40pm (Singapore Time). My Stochs is in line with what I saw.

Stop Loss at 1.1510 (30pips) and Target Profit at 1.1630 (90pips). Why 1.1630 as my Target Profit? Using Fibo, this price line is just above the 38.2%, above today's Pivot Point and it is my Weekly Pivot point.

Trade was close when it hit my Target Profit at 6:48pm (Singapore Time). 90pips profit for this trade.

Peace and trade safely everyone...